Mark Yusko, CEO of Morgan Creek Capital Management, who spoke yesterday alongside Yahoo Finance reporters about the situations of Ethereum (ETH) which has been witnessing a slump in price for some times now.
One of the Yahoo Finance’s reporter Dan made mention that ICOs that are fraudulent and those that are not are cashing out their ETH, this according to him, has resulted in the epileptic price of Ethereum.
After that, Yusko was questioned on whether this is bad for Ethereum ecosystem, his response was that the case of Ethereum would be that of the 1993 0e 1994 when Google was in the making, no one could imagine Google would come this far.
He spoke extensively on internet protocols like SMTP, HTTP, IP, among others saying this protocols were motivations behind smartphones and some other technology.
Yusko said Ethereum is another big protocol that helps in the creation of the TrustNet. He maintained that the major dissimilarities between the internet and TrustNet was that the developers of internet were poor while Sergei and Zuckerberg reaped their efforts easily.
Yusko said the protocols have extrinsic use cases making Ethereum awesome for future usage. While Ethereum is different, it is still like the www. Of the TrustNet, he said.
Before reaching a conclusion, Dion also spoke on Jordan Belfort’s understanding of Bitcoin as a scam, mark responded that his assertion was on ICOs and not Ethereum or Bitcoin. He defended Jordan saying he was talking about utility tokens which have been regarded a scam by many people.